Individuals, whose age will not exceed the 70th year at the end of the loan period. 

The loan is provided for renovation or repair work on a residence owned by the borrower. 

Up to 100% of the cost of the renovation / repair work.

• The above interest rate is subject to Law 128/75 levy, currently 0.12%. In case the residence is intended for investment property, the interest rate is subject to Law 128/75 levy of 0.60%.
• In case the Euribor rate takes a negative value and for as long as it remains negative, a zero-reference rate will be applied.

Find out more about interest rates here.

Indicative Example of Home Improvement Loan without collateral with Variable rate and levy of Law 128/75 0.12%

For a €25,000 home improvement loan (total credit amount) with annual nominal variable interest rate Euribor 3M (the rate used for the specific example is Euribor 3M of 3.70%), plus spread 4.50% plus Law 128/75 levy, today 0.12%, for which repayment in 84 monthly installments is agreed and one-off costs €148.80:

Total credit amount: €25,000

Total credit cost: €8,215.35 of which €8,066.55 is interest and €148.80 is cost

Total repayment amount: €33,215.35

Indicative APR: 8.84%

Indicative Example of Home Improvement Loan without collateral with Variable rate and levy of Law 128/75 0.60%

For a €25,000 home improvement loan (total credit amount) with annual nominal variable interest rate Euribor 3M (the rate used for the specific example is Euribor 3M of 3.70%), plus spread 4.50% plus Law 128/75 levy, today 0.60%, for which repayment in 84 monthly installments is agreed and one-off costs €148.80:

Total credit amount: €25,000

Total credit cost: €8,722.74 of which € 8,573.94 is interest and €148.80 is cost

Total repayment amount: € 33,722.74

Indicative APR: 9.36%

The APR is indicative. For its calculation, the year is defined as having 365 days and the following assumptions are taken into account:

- The interest rate remains unchanged at the level established for the initial period for the entire duration of the contract.
- The disbursement of the granted loan amount is made once.
- The loan is repaid on time in monthly interest-bearing installments.

There are no fees for the assessment and approval of your application. 

The cost for approving the Budget of the renovation work and the cost for the Certification of Work Progress shall be borne by the borrower according to the Bank's Fees and Charges in force.

Disbursement in two installments as follows:

• The first disbursement corresponds to 80% of the loan and is made upon signing the contract.
• The second disbursement is made after the engineer's autopsy and his confirmation that the progress of the works has been completed.

In the case of a loan for which a grace period has been granted, its disbursement must be completed by the last day of this period.

The loan term can be from 3 to 7 years.

You can repay part or all your loan before the agreed date without any charge.

Repayment is carried out in monthly interest-bearing installments through the borrower’s deposit account at Pancreta Bank.

It is not required to pre note the property.

A guarantor may be deemed necessary and requested during the assessment of the loan application.

We offer you the possibility of insuring your property as well as insuring yourself to securely repay your loan in case of unforeseen events through the Borrowers’ Life insurance program that covers loss of life from any cause or Total Permanent Disability (TPD).